Petrobras Chief: U.S. Refinery Sale Ongoing
Brazil's Petrobras is continuing with its efforts to sell a Pasadena, Texas oil refinery and has no plans to build another plant, the company's chief executive said on Monday.
Pedro Parente, chief executive of the state-controlled oil firm, said the company has not changed its mind on divesting its Liquigas subsidiary. An earlier sale of the operation was blocked.
"We will still continue our divestment plan," Parente said on the sidelines of the CERAWeek energy conference. "As soon as they have approval, we will go ahead with a sale."
Reporting by Gary McWilliams
